politics

Yikes, when did we become the majority workforce demographic?

But seriously, 72 million working people don't even account for 5% of wealth... What a broken fucking system.

Maybe unchecked capitalism was a bad idea...

I remember hearing or reading somewhere that Zuckerberg constitutes 2% of all millennial wealth.

The "greatest generation" never retired. They worked themselves into the grave, and left everything to their entitled boomer kids while running all social welfare programs into the ground.

Now the boomers are flush with cash and collecting social security that we will never see and the last of the pensions that we will never see.

Baby Boomers: $78.1 / 53%

Generation X: $46.0 / 28%

Millennials: $13.3 / 6%

Source

Lol'd at "Millennials have a predilection for real estate assets, where they spend 37% of their fortune"

It's not that real estate prices are over inflated, we millennials just prefer spending more on housing.

Good news, that's the real trickle down economics, inheritances!

But on a more serious note, it's not that good a comparison, what we need to check is what % of the wealth the previous generations controlled at this point in their history (when the generation was in its mid twenties to early forties) because they too were the biggest workforce without owning most of the wealth, that's just how things go, you accumulate wealth over time, they have decades ahead of us. They surely owned more than we do now, but it's certainly not as big a difference.

In the end what I'm seeing is just another piece to divide those at the bottom so they don't pay attention to the people that truly own a disproportionate amount, like Zuckerberg that owns 2% of the millennial's wealth. This guy is 0.000000003% of US's population and owns close to 0.1% of its population's wealth.

Ya that sounds about right. I fucking have to claw and fight for everything and I still end up living a fraction of what my parents had at the same age.

I was born during an absolute boom int he economy. Late '80s and '90s were awesome. '90s were fantastic, just fucking pumping.

I'm working my balls off and putting money into an IRA that I watch essentially disappear every day. I have 529s for my kids that are in the negative returns. I have plans to put an addition on my home that I'll never do, because a 180 square foot addition shouldn't cost 75% of what I paid for the house in 2014. And the crazy thing is I'm a lucky one. It is just sad, and I'm not sure there is an end in sight without some sort of massive reset.

This just in: we're fucked! Back to you Chet.

And I hear half of that is just Zuckerberg

In fact, while the 1% of the luckiest Americans have a combined net worth of $ 34.2 trillion, the poorest 50%, about 165 million people, own only $ 2.08 trillion, or the 1.9% of the total wealth accumulated by Americans.

To do the math, this means that the average American in the poorest 50% has $12,600. Meanwhile, the average 1%-er has over $10 million.

Fun, so when they told us, "you can be anything" that was just condescension because these bitches were dead set on destroying the environment and pillaging all the wealth.

Bet, they will also be the generation to leave their inheritance to Barron Trump or some dumb shut.

Can't wait for our parents and grandparents to fucking die.

Yeah, I haven't been treading water for about five years now. Just accepted it and sank to the bottom.

What percent of the guns do we control?

Was this written by AI and then poorly copy edited?

His interest in equities, for example, is much more limited, directing only $ 580,000 million to these purposes, about 6.3% of his total wealth.

Let us assume that millennials make up 1/5 of the population, and let us also assume that 1/5 are zoomers not making money. The other 3/5 are the older generations.

First, let's assume that every generation, you work at a fixed rate and save a fixed ammount after expenses: X. Since millennials were kids prior to this, they have saved just X in their lifetimes. The next fifth would have saved X+X=2X, the next one would be 3X, and finally those in retirement 4X. The total amount of money over the 5 groups would be 1+2+3+4= 10X, which if X was 4.6%, would account for 46% of the wealth.

But wait! As you get older, you earn more and the money you save (like houses) increase in value. So after a generation that X saved is cX and then c^2X in 2 generations and c^3 in three.

So 100=(c^3+2c^2+3c+4)X, if X is 4.6, c is 1.8, so every generation your earning potential increase by 80%. Which is obviously wrong, but I just like doing math.